'Pensions are finished': Michael Johnson calls time on traditional retirement product

Jenna Towler
clock

The Budget reform package coupled with generation Y's complete disengagement from traditional retirement saving has effectively killed pensions in their current form, according to Michael Johnson.

The Centre for Policy Studies fellow said "pensions are finished" and reiterated his call for a lifetime ISA product to be introduced in the UK. He also said the current "regressive" tax relief ...

To continue reading this article...

Join Professional Pensions

Become a Professional Pensions Lite Member today

  • Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
  • Receive important and breaking news stories via our two daily news alerts
  • Hear from industry experts and other forward-thinking leaders

Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here

Join now

 

Already a Professional Pensions
member?

Login

More on Law and Regulation

Spring Statement 26: No pension announcements in chancellor's speech

Spring Statement 26: No pension announcements in chancellor's speech

Industry welcomes ‘low-key’ speech as chancellor says government will chart a course through economic ‘uncertainty’

Martin Richmond
clock 03 March 2026 • 3 min read
Ros Altmann urges gov to 'press pause' on 'rushed' salary sacrifice cap

Ros Altmann urges gov to 'press pause' on 'rushed' salary sacrifice cap

Peer says legislation ‘not clearly thought through’ with key questions left unanswered

Jonathan Stapleton
clock 02 March 2026 • 4 min read
Why employers must not wait until 2029 to review pension salary sacrifice

Why employers must not wait until 2029 to review pension salary sacrifice

Mark Pemberthy says the effect of the cap will be felt acutely by payroll and benefits teams

Mark Pemberthy
clock 27 February 2026 • 5 min read
Trustpilot